Imported from previous forum
Hi,
I am looking for the Reuters Exchange Code for Borsa Italiana (based in Milan, Italy). I am aware that the exchange was previously known as the Milan Stock Exchange (REC = MI) and that it was taken over by the LSE in 2007. I was under the impression that the Reuters Code for the MSE would continue, however, that does not seem to be the case. The market is divided into five parts. Does each part require have its own Reuters Code? e.g. To trade in the Electronic Share Market - MTA?
In principle, a single Exchange Code should suffice for a single exchange regardless which segment one trades in. Which Reuters Exchange Code is enough to identify the exchange Borse Italiana?
Any help would be appreciated.
Prateek
[ original email was from Ryan Pierce (FPL Technical Director) - ryan.pierce@fixprotocol.org ]
> I am looking for the Reuters Exchange Code for Borsa Italiana (based in
Milan, Italy). I am aware that the exchange was previously known as the
Milan Stock Exchange (REC = MI) and that it was taken over by the LSE in
2007. I was under the impression that the Reuters Code for the MSE would
continue, however, that does not seem to be the case. The market is
divided into five parts. Does each part require have its own Reuters
Code? e.g. To trade in the Electronic Share Market - MTA? In principle,
a single Exchange Code should suffice for a single exchange regardless
which segment one trades in. Which Reuters Exchange Code is enough to
identify the exchange Borse Italiana? Any help would be appreciated.
Historically, FPL has distanced itself from acting as a registration authority for exchanges, or making difficult determinations like, in the case specified above, one or five codes should be used.
Initially, FIX used Reuters exchange codes, which were used up to and including FIX 4.2. Then FPL began assigning numeric values for markets that weren’t listed by Reuters. This situation was very sub-optimal, as there never was coordination between FPL and Reuters in exchange code assignments. Further, I doubt the list of Reuters-assigned codes on the FPL website have been updated in years.
Starting with FIX 4.3, FPL divorced FIX entirely from Reuters codes, and instead used ISO 10383 MIC codes. A list of these, as well as a form to request that ISO create new MIC codes, is here:
http://www.iso15022.org/MIC/homepageMIC.htm
This ambiguity around market identification is one of many reason why I recommend firms not use FIX 4.2 and lower. FIX 4.4 and higher are much better protocol versions, and they provide unambiguous market identification.
Since many firms still use FIX 4.2 and earlier, FPL continues to maintain a numeric list of exchange codes. These are listed here:
http://fixprotocol.org/specifications/exchanges.shtml
(Note that you’ll need to click a tab in the upper portion of the screen that says “Other (assigned numeric values)” to see the numeric ones.)
FPL still will add new numeric exchange codes. However, the exchange itself needs to make the request. We’ll leave it up to the exchanges to determine if one or five codes are needed, or if one will suffice. Requests should be mailed to fpl@fixprotocol.org